Ethereum price has recently faced resistance to $ 2,000. The fate of approximately 9.69 million ETH, ie an investment of $ 18 billion depends on this level.
Ethereum expects high earnings for investors
If Ethereum manages to exceed the critical $ 2,000 resistance, significant gains can be made for short -term investors, which can trigger a strong rally. However, the sales pressure of short -term investors and the current negative MVRV (market value / realized value) ratio may prevent a permanent rise by suppressing the price of ETH.
ITOTHEBLOCK’s IOMAP (In/Out of the Money Around Price) indicates that there are about 9.69 million ETHs that are purchased in the range of $ 1,880 to $ 2,048 and currently go between snow and loss. If Ethereum breaks $ 2,000 resistance and transforms this level into support, this great supply slice can pass.
If ETH can secure the $ 2,000 level as support, a strong recovery may occur in the price. This may increase the value of Ethereum to enable large beings to pass.
Sales pressure can prevent rally
MVRV (Market value / value) long / short difference is currently -18%, which shows that short -term investors are in profit. However, this is considered a negative signal for the general market. Short -term investors often tend to sell their assets quickly when they profit. This sales pressure can print over the price, especially when Ethereum approaches $ 2,000.
The negative MVRV ratio shows that Ethereum’s price is under pressure due to short -term investors’ desire to make a quick profit. Considering that many short-term investors have accumulated ETH in the range of $ 1,800-2,000, this sales pressure can prevent Ethereum from holding more than $ 2,000 permanently.
Can Ethereum secure $ 2,000 as support?
The price of Ethereum is currently located in $ 1,879 and is just above $ 1,862. Altcoin aims to break the resistance of $ 2,000, which requires only an increase of 6.3 %. However, it depends on the behavior of short -term investors to a large extent whether this increase will occur. If these investors turn to sale, the rally may take short.
If Ethereum does not secure the level of $ 2,000, the price may again decrease to $ 1,862 or lower. As seen in the past, continuous sales pressure of STHs (short -term investors) can prevent a permanent rise of over $ 2,000, and instead of the price to consolidate or fall to $ 1.745.
The only way to reverse this negative picture is that Ethereum transforms this point into support by exceeding $ 2,141. If this happens, a clear tendency to rise will occur and Ethereum will be able to recover more. If this level is successfully exceeded, it may be possible for Ethereum to continue to rise above $ 2,200.
Kriptokoin.comAs we have included in their analysis, some experts are worried about the future of the Ethereum network.
